Common use of Failure to Satisfy Conditions Precedent Clause in Contracts

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 5 contracts

Sources: Credit Agreement (B. Riley Financial, Inc.), Credit Agreement (Babcock & Wilcox Enterprises, Inc.), Credit Agreement (Babcock & Wilcox Enterprises, Inc.)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the any Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the such Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV Section 4.2 (and, if such Credit Extension is to be made on the Closing Date, Section 4.1) are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 3 contracts

Sources: Credit Agreement (Nabors Industries LTD), Credit Agreement (Parker Drilling Co /De/), Credit Agreement (Parker Drilling Co /De/)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Committed Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower Borrowers by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof (subject to the provisions of the last paragraph of Section 4.02 hereof), the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 2 contracts

Sources: Credit Agreement (Syms Corp), Credit Agreement (Syms Corp)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension Borrowing set forth in Article IV (or in the case of a New Term Loan, Section 2.10(f)) are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 2 contracts

Sources: Senior Secured Term Loan Credit Agreement (Pacific Ethanol, Inc.), Senior Secured Term Loan Credit Agreement (Aventine Renewable Energy Holdings Inc)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower ▇▇▇▇▇▇ as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension Loan set forth in Article IV V are not satisfied or waived in accordance with the terms hereofhereof (it being understood and agreed that the Administrative Agent shall not have any responsibility to determine whether or not the conditions set forth in Article V are satisfied, such responsibility being exclusively that of the Lenders), the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 2 contracts

Sources: Amendment and Restatement Agreement (Concentrix Corp), Amendment and Restatement Agreement (Concentrix Corp)

Failure to Satisfy Conditions Precedent. If any Term Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Term Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension Term Loan Borrowing set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall promptly return such funds (in like funds as received from such Term Lender) to such Term Lender, without interest.

Appears in 1 contract

Sources: 364 Day Credit Agreement (Willis Group Holdings LTD)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the any Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the such Borrower by the Administrative Agent because the conditions to the applicable Credit Extension Loans or L/C Cre di t Ex te nsi on set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 1 contract

Sources: Credit Agreement (American Outdoor Brands Corp)

Failure to Satisfy Conditions Precedent. If any Term Loan Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Term Loan Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension Borrowing set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Term Loan Lender) to such Term Loan Lender, without interest.

Appears in 1 contract

Sources: Super Priority Credit Agreement (Basic Energy Services, Inc.)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV or in the 2022 Amendment and Restatement Agreement (in the case of the Term A Loans) are not satisfied or waived in accordance with the terms hereofhereof or thereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 1 contract

Sources: Amendment and Restatement Agreement (Valvoline Inc)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Administrative Agent or Revolver Agent, as applicable, funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower Borrowers by the Administrative Agent or Revolver Agent, as applicable, because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent or Revolver Agent, as applicable, shall return such funds promptly (in like funds as received from such Lender) to such Lender, without interest.

Appears in 1 contract

Sources: Credit Agreement (PetIQ, Inc.)

Failure to Satisfy Conditions Precedent. If any Lender makes available to the Facilities Administrative Agent or the Term Administrative Agent, as the case may be, funds for any Loan (including funds made available to satisfy the Term Loan Prefunding Requirement) to be made by such Lender to the Borrower as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Appropriate Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Appropriate Administrative Agent shall promptly return such funds (in like funds as received from such Lender) to such Lender, without interest.

Appears in 1 contract

Sources: Credit and Guaranty Agreement (Foresight Energy LP)